The News Feed

Tag: Fund Raising

  • Perplexity Buys Read.cv, a Social Media Platform, to Boost Professional Networking

    Perplexity Buys Read.cv, a Social Media Platform, to Boost Professional Networking

    In a major move to grow its presence in professional networking, AI-driven search engine Perplexity has announced it is buying Read.cv. The announcement was made on January 17, 2025, and shows Perplexity’s commitment to improving user connections and making knowledge more accessible.

    End of an Era for Read.cv

    Read.cv was known as a simple and creative platform for professionals to share their work, projects, and achievements. Starting today, the platform will begin shutting down. Users have until May 16, 2025, to save their data, including profiles and messages, using a built-in data export tool. The team at Read.cv described the closure as “bittersweet,” reflecting on their platform’s focus on creativity and curiosity.

    New Beginnings with Perplexity

    Both companies view the acquisition as a perfect fit for their goals. Read.cv shared in a farewell blog post, “We’ve long admired Perplexity and believe great things happen when the world’s knowledge is made more open and accessible.” Perplexity’s CEO, Aravind Srinivas, expressed excitement about welcoming Read.cv’s design and engineering teams to work on shared goals of exploration and innovation using AI.

    Backed by investors like Jeff Bezos and NVIDIA, Perplexity aims to combine AI with social innovation. This acquisition could help the company create new ways for professionals to connect and collaborate.

    Reactions and Future Outlook

    The news has brought mixed feelings from Read.cv users and the tech world. Many feel sad to see the platform close, but some are hopeful about the new possibilities. “It’s sad to see Read.cv sunset, but the merger with Perplexity could bring exciting new features for professionals,” commented one user online.

    While Perplexity has not shared exact plans for how Read.cv’s features will be used, they have hinted at new ideas for improving professional networking with AI tools.

    About the Companies

    Perplexity: An AI-powered search engine focused on providing accurate answers and valued at $9 billion. It is supported by major investors like Jeff Bezos and NVIDIA.

    Read.cv: A platform created by Andy Chung, a former designer at Facebook and Mozilla, known for emphasizing creativity in professional profiles.

    This acquisition highlights the growing importance of AI and user-focused design in shaping how professionals connect and share online.

  • Bioptimus Raises $41 Million to Build “GPT for Biology”

    Bioptimus Raises $41 Million to Build “GPT for Biology”

    French startup Bioptimus has raised $41 million in funding, led by Cathay Innovation. This brings the company’s total funding to $76 million. Bioptimus plans to create a groundbreaking AI model, called a “GPT for biology,” designed to simulate and predict biological processes.

    What Is “GPT for Biology”?

    Bioptimus aims to build an AI model for biological research, similar to how GPT models like ChatGPT transformed natural language processing. Instead of generating text, this AI will:

    • Simulate biological processes at the molecular and organism levels.
    • Predict diseases and how they develop or react to treatments.
    • Help discover new drugs by modeling how compounds interact with biological systems.
    • Support personalized medicine by tailoring treatments to individual genetic profiles.
    • Aid environmental research by predicting biological responses to changes in ecosystems.

    How This AI Could Help Science

    Bioptimus is creating a single model that combines data like genetics, proteins, and cells. This tool could make medical research faster and more accurate by:

    • Predicting disease pathways to improve understanding of illnesses.
    • Accelerating drug discovery by testing possibilities faster than traditional methods.
    • Improving healthcare through tailored treatments based on personal genetics.

    Who Is Behind Bioptimus?

    The Bioptimus team includes experts in AI and biology:

    • Jean-Philippe Vert, Co-founder and Chairman, has experience from Google Brain and Owkin.
    • Rodolphe Jenatton, CTO, was a senior researcher at Google.
    • Other team members come from Google DeepMind, blending strong AI and biology expertise.

    What’s Next for Bioptimus?

    The $41 million will be used to:

    • Expand research with more biological data and better models.
    • Build partnerships with universities, biotech companies, and pharmaceutical firms.
    • Develop products for researchers and biotech industries.

    Why This Matters

    Bioptimus’s work could revolutionize how we study biology. By making complex biological systems easier to understand, their AI has the potential to transform drug discovery, disease research, and environmental science.

    The biotech community is excited about the possibilities, with many watching closely to see how Bioptimus shapes the future of biological research.

    Links

    https://www.bioptimus.com/news/bioptimus-hits-76m-funding

  • Raspberry AI Raises $24M to Revolutionize Fashion Design with AI

    Raspberry AI Raises $24M to Revolutionize Fashion Design with AI

    Raspberry AI, a New York startup specializing in generative AI for fashion design, has raised $24 million in funding led by Andreessen Horowitz (a16z). This investment is set to transform how fashion is imagined, designed, and produced, signaling a big step forward for AI in creative industries.

    What Does Raspberry AI Do?

    Raspberry AI’s platform uses generative AI to help fashion designers quickly visualize trends, fabrics, trims, prints, and more. Instead of spending weeks sketching or experimenting, designers can see their ideas come to life in moments. The company aims to make fashion design faster and easier while empowering creativity.

    About the Funding

    The Series A funding round, led by a16z, follows Raspberry AI’s earlier $4.5 million seed funding. With $24 million now secured, the company plans to:

    • Expand Operations: Hire more AI experts, fashion specialists, and developers to improve the platform.
    • Enhance AI Models: Make the platform smarter and better at predicting what consumers will love.
    • Reach More Designers: Offer affordable tools to smaller brands and independent designers, leveling the playing field in the fashion world.

    How AI Can Change Fashion

    The fashion industry is often criticized for being slow, wasteful, and unsustainable. Raspberry AI’s tools could change this by:

    • Speeding Up Design: Cutting design times from months to days, helping brands respond faster to trends.
    • Reducing Waste: Aligning production with demand, minimizing overproduction and excess inventory.
    • Fostering Creativity: Allowing designers to try bold, innovative ideas with less risk.

    Industry Buzz

    Both the tech and fashion communities are excited about Raspberry AI’s potential. Designers and brands see AI as a way to make their processes more efficient and creative. On social media, many have praised the company for its focus on inclusivity, as it aims to provide cutting-edge tools to both major fashion houses and independent designers.

    The Future of Fashion with AI

    With this funding, Raspberry AI plans to expand globally, partner with top fashion brands, and introduce new features. However, the company knows it must balance technology and human creativity. Cheryl Liu, CEO of Raspberry AI, emphasizes that AI will assist designers rather than replace their unique, personal touch.

    As the fashion industry moves toward more sustainable and innovative practices, Raspberry AI could lead the way, showing how AI and creativity can work together to shape the future of design.

    Links

    https://www.raspberry.ai

  • Moonrider Secures $2.2 Million to Revolutionize Farming with Electric Tractors

    Moonrider Secures $2.2 Million to Revolutionize Farming with Electric Tractors

    Bengaluru-based startup Moonrider, a leader in electric tractor technology, has raised $2.2 million in seed funding. The funding round, announced on January 7, 2025, was led by AdvantEdge Founders and Micelio Technology Fund, along with angel investors. This investment aims to boost Moonrider’s efforts to create cost-effective and eco-friendly solutions for modern farming.

    How the Funding Will Be Used

    Moonrider plans to use the funds to improve its technology and bring more innovation to electric tractors. Key areas of focus include:

    • Vehicle Engineering: Making electric tractors more powerful, durable, and efficient to match diesel models.
    • Vehicle Software: Adding smart features like better automation and integration with advanced farming techniques.
    • Battery Technology: Improving batteries to increase range and reduce charging time, making electric tractors more practical for farmers.

    Moonrider’s Mission

    Founded in August 2023 by Anoop Srikantaswamy and Ravi Kulkarni, Moonrider aims to make farming more sustainable and affordable. The startup’s tractors help farmers save up to 80% on operational costs, costing only INR 300 per hour compared to INR 1,000-1,500 for diesel tractors.

    “Our focus is on getting the product right. The next six months will involve testing, validation, and engineering improvements,” said Anoop Srikantaswamy, co-founder and CEO. Moonrider’s goal is to make tractors farmers can trust in a field that has been slow to embrace new technology.

    Support from Investors

    Kunal Khattar of AdvantEdge Founders shared his excitement:

    “Electric tractors are the next big thing. They are 50% cheaper to own and maintain, and we believe they will make a huge impact on farming.”

    Shreyas Shibulal from Micelio Fund added:

    “Moonrider aligns perfectly with our mission to back sustainable innovations in clean mobility.”

    Market Impact and Future Plans

    Moonrider has already partnered with businesses in India and East Africa, preparing to expand globally. Its tractors, set to launch soon, aim to replace diesel models, cutting carbon emissions and reducing farming costs.

    Despite a tough funding climate for electric vehicle startups—investments in India nearly halved between 2022 and 2024—Moonrider’s success shows strong confidence in the potential of electric tractors to reshape agriculture.

    Moonrider is set to lead the charge in modern, eco-friendly farming, offering a glimpse into a future where technology makes farming more sustainable and affordable for everyone.

    Links

    https://www.moonrider.ai